New Delhi, 27 August (H.S.): Union Minister for Commerce and Industry Piyush Goyal has concluded his four-day visit to Japan, during which he urged Japanese companies and financial institutions to expand their investments in India and set a target of attracting 10 trillion yen in private investment from Japan over the next decade. Japanese companies also expressed interest in expanding their presence in India’s semiconductor and advanced technology sectors, while the two countries agreed to give fresh impetus to their industrial partnership.

According to the Union Ministry of Commerce and Industry, Goyal participated in high-level meetings and roadshows in Tokyo, Nagoya and Osaka. He held discussions with Japan’s Minister of Economy, Trade and Industry Ryosei Akazawa, as well as senior representatives of the Japan External Trade Organization (JETRO), Japan Bank for International Cooperation (JBIC) and Japan International Cooperation Agency (JICA). The discussions focused on expanding investment, strengthening supply chains, enhancing technology partnerships and exploring new avenues for bilateral cooperation.

At a special roundtable on semiconductors and artificial intelligence, Goyal presented India’s six-pillar semiconductor strategy. He said the combination of India’s young talent pool and Japan’s technological capabilities could drive a global semiconductor revolution. Japanese companies expressed their willingness to increase investments in semiconductor materials, equipment, power semiconductors, electronics, artificial intelligence and logistics.

More than 80 Japanese companies participated in the India-Japan Next Generation Economic Partnership Roadshow held in Nagoya. Discussions focused on cooperation in the automobile, aerospace, machine tools, electronics and small and medium-sized enterprise sectors. Goyal said the convergence of India’s young talent and Japan’s technological expertise would pave the way for new industrial and technology partnerships.

Goyal said that despite global challenges, the Indian economy had recorded growth of 7.7 per cent and was moving towards the goal of becoming a USD 30 trillion economy by 2047. He said India’s expanding middle class, digital economy, robust banking sector and renewable energy capacity were creating significant opportunities for long-term investors.

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Hindusthan Samachar / Jun Sarkar